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October sales exceed historical average

Metro Vancouver home sales exceeded typical historical levels in October with the majority concentrated in the townhouse and apartment markets.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 3,022 in October 2017, a 35.3 per cent increase from the 2,233 sales recorded in October 2016, and an increase of 7.1 per cent compared to September 2017 when 2,821 homes sold.

Last month’s sales were 15 per cent above the 10-year October sales average.

“Conditions continue to vary significantly based on property type. The detached home market is well supplied with homes for sale, which is relieving pressure on prices,” Jill Oudil, REBGV president said. “It remains a much different story in the townhouse and apartment markets. Buyers of these properties continue to have limited supply to choose from and are seeing upward pressure on prices.”

There were 4,539 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in October 2017. This represents a 14 per cent increase compared to the 3,981 homes listed in October 2016 and a 15.6 per cent decrease compared to September 2017 when 5,375 homes were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 9,137, a 0.1 per cent decrease compared to October 2016 (9,143) and a 3.5 per cent decrease compared to September 2017 (9,466).

For all property types, the sales-to-active listings ratio for October 2017 is 33.1 per cent. By property type, the ratio is 16.8 per cent for detached homes, 44.8 per cent for townhomes, and 66 per cent for condominiums.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

“The growth in our provincial economy and job market is contributing to today’s demand,” Oudil said. “The federal government’s announcement of plans to tighten mortgage requirements for the seventh time in the last eight years also helped spur activity in the short term. Many buyers are trying to enter the market before the changes are in place.”

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,042,300. This represents a 12.4 per cent increase over October 2016 and a 0.5 per cent increase compared to September 2017.

Sales of detached properties in October 2017 reached 940, a 44.2 per cent increase from the 652 detached sales recorded in October 2016 and a 34.6 per cent decrease from the 1,437 sales in October 2015. The benchmark price for detached properties is $1,609,600. This represents a four per cent increase from October 2016 and a 0.5 per cent decrease compared to September 2017.

Sales of apartment properties reached 1,532 in October 2017, a 30.1 per cent increase compared to the 1,178 sales in October 2016 and a 0.7 per cent decrease from the 1,543 sales in October 2015. The benchmark price of an apartment property is $642,000. This represents a 22.7 per cent increase from October 2016 and a one per cent increase compared to September 2017.

Attached property sales in October 2017 totalled 550, a 36.5 per cent increase compared to the 403 sales in October 2016 and a 17.4 per cent decrease from the 666 sales in October 2015. The benchmark price of an attached unit is $802,400. This represents a 17.7 per cent increase from October 2016 and a two per cent increase compared to September 2017.

REBGV November 2017 Stats


Metro Vancouver continues to experience above-average demand and below-average supply

Metro Vancouver* saw modest home listing changes and steady demand in November.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,795 in November 2017, a 26.2 per cent increase from the 2,214 sales recorded in November 2016, and a 7.5 per cent decrease compared to October 2017 when 3,022 homes sold.

Last month’s sales were 17 per cent above the 10-year November sales average.

“We’re seeing steady demand in today’s market. Home buyer activity is operating above our long-term averages, particularly in our townhome and condominium markets,” Jill Oudil, REBGV president said.

There were 4,109 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2017. This represents a 30.6 per cent increase compared to the 3,147 homes listed in November 2016 and a 9.5 per cent decrease compared to October 2017 when 4,539 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 8,747, a 4.3 per cent increase compared to November 2016 (8,385) and a 4.3 per cent decrease compared to October 2017 (9,137).

“While we’re seeing more listings enter the market today than we saw at this time last year, we have a long way to go before our home listing inventory rises back to more historically typical levels,” Oudil said.

The sales-to-active listings ratio for November 2017 is 32 per cent, which is up three per cent since September 2017. By property type, the ratio is 15.9 per cent for detached homes (up one per cent since September 2017), 36.4 per cent for townhomes (down six per cent since September 2017), and 67.8 per cent for condominiums (up seven per cent since September 2017).

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,046,900. This represents a 14 per cent increase over November 2016 and a 0.4 per cent increase compared to October 2017.

Sales of detached properties in November 2017 reached 841, a 31.8 per cent increase from the 638 detached sales recorded in November 2016. The benchmark price for detached properties is $1,608,000. This represents a 6.1 per cent increase from November 2016 and a 0.1 per cent decrease compared to October 2017.

Sales of apartment properties reached 1,508 in November 2017, a 25.7 per cent increase compared to the 1,200 sales in November 2016. The benchmark price of an apartment property is $648,200. This represents a 23.9 per cent increase from November 2016 and a one per cent increase compared to October 2017.

Attached property sales in November 2017 totalled 446, an 18.6 per cent increase compared to the 376 sales in November 2016. The benchmark price of an attached unit is $805,200. This represents a 17.9 per cent increase from November 2016 and a 0.3 per cent increase compared to October 2017.



Home buyer demand continues to differ based on housing type


 Apartment and townhome activity is outpacing the
detached home market across Metro Vancouver*. This activity helped push total residential sales
above the historical average in September.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in
the region totalled 2,821 in September 2017, a 25.2 per cent increase from the 2,253 sales
recorded in September 2016, and a 7.3 per cent decrease compared to August 2017 when 3,043
homes sold.
Last month’s sales were 13.1 per cent above the 10-year September sales average.
“Our detached homes market is balanced today, while apartment and townhome sales remain in
sellers' market territory,” Jill Oudil, REBGV president said. “If you’re looking to enter the
market, as either a buyer or seller, it’s important to understand these trends and use this
information to set realistic expectations.”
There were 5,375 detached, attached and apartment properties newly listed for sale on the
Multiple Listing Service® (MLS®) in Metro Vancouver in September 2017. This represents a 12
per cent increase compared to the 4,799 homes listed in September 2016 and a 26.6 per cent
increase compared to August 2017 when 4,245 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is
9,466, a 1.2 per cent increase compared to September 2016 (9,354) and a 7.5 per cent increase
compared to August 2017 (8,807).
“Detached homes made up 30 per cent of all sales in September and represented 62 per cent of
all the homes listed for sale on the MLS®,” said Oudil. “This dynamic has slowed the pace of
upward pressure that we’ve seen on detached home prices in our market over the last few years.”
For all property types, the sales-to-active listings ratio for September 2017 is 29.8 per cent. By
property type, the ratio is 14.6 per cent for detached homes, 42.3 per cent for townhomes, and
60.4 per cent for apartments.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below
the 12 per cent mark for a sustained period, while home prices often experience upward pressure
when it surpasses 20 per cent over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro
Vancouver is currently $1,037,300. This represents a 10.9 per cent increase over September 2016
and a 0.7 per cent increase compared to August 2017.
Sales of detached properties in September 2017 reached 852, a 27.9 per cent increase from the
sales recorded in September 2016 (666), a decrease of 33 per cent from September 2015 (1,272),
and a decrease of 32.9 per cent from September 2014 (1,270). The benchmark price for detached
properties is $1,617,300. This represents a 2.9 per cent increase from September 2016 and a 0.1
per cent increase compared to August 2017.
Sales of apartment properties reached 1,451 in September 2017, a 19.1 per cent increase
compared from the sales recorded in September 2016 (1,218), a 5.1 per cent decrease from
September 2015 (1,529), and a 22.1 per cent increase from September 2014 (1,188). The
benchmark price of an apartment property is $635,800. This represents a 21.7 per cent increase
from September 2016 and a 1.4 per cent increase compared to August 2017.
Attached property sales in September 2017 totalled 518, a 40.4 per cent increase compared to the
sales recorded in September 2016 (369), a 4.8 per cent decrease from September 2015 (544), and
an 11.6 per cent increase from September 2014 (464). The benchmark price of an attached home
is $786,600. This represents a 14.5 per cent increase from September 2016 and a 1.1 per cent
increase compared to August 2017.



Vancouver Empty Homes Tax now in effect


The first tax year began January 1, 2017. The tax rate is 1.0% of the property’s assessed value.

Does the Empty Homes Tax apply to you? http://vancouver.ca/home-property-development/empty-homes-tax.aspx

Who pays this tax?
Owners of non-principal residences unoccupied for six months or more each year must pay this tax.

The Empty Homes Tax Does Not apply to:

  • Vancouver home owners, including snowbirds;
  • owners of principal residences;
  • a home with a basement suit or a laneway house if one of the units is occupied; and
  • Owners of properties rented long-term (with a tenancy agreement), or for at least 30 days in a row for a minimum of six months or a total of 180 days a year. For example, a homeowner renting a property for six 30-day terms is exempt from the tax, even if those six 30-day terms are not consecutive.

Exemptions
Exemptions include:

  • a property being renovated, or under construction or redevelopment (with permits);
  • the owner (or other occupier) is undergoing medical or supportive care;
  • the owner has died and the property is in probate;
  • the property changed ownership during the previous year;
  • there are strata rental restrictions prohibiting rental;
  • the owner uses the property for six months a year for work and has a principal residence elsewhere;
  • there is a court order prohibiting occupancy;
  • the property is limited to vehicle parking, or a residential building can’t be constructed because of the size or shape of the property.

Owners claiming an exemption
These owners must provide evidence, for example, building permits, a letter from a care facility, a death certificate, strata bylaws, or related.

If you don’t qualify for an exemption
Does the tax apply to you? Check here.

Property owners who don’t qualify for an exemption have options. You can:

  • live in your property as a principal residence;
  • rent your property for a minimum of 180 days per year, in periods of at least 30 consecutive days;
  • hire a property management firm to rent the property on a long-term or periodic basis;
  • have a family member occupy the property as their principal residence;
  • sell the property; or
  • Keep the property as-is and pay the Empty Homes Tax.


BosaSPACE - University District in Surrey Center- 3 townhomes remaining for sale


Contact [email protected], 778-895-2954 for details.

bosaspace b

 

 

THREE PENTHOUSE HOMES REMAIN

At this time, we have three beautiful homes remaining in our Penthouse Collection – featuring stunning city and mountain views, legendary Bosa attention to detail, two parking stalls, and private rooftop decks (hot tub included!). Please see below for further details:

Plan Type View
Orientation
Interior SF Exterior SF Price
PH7 S 969 422 $650,900
PH1 S 969 634 $660,900
PH3 NW 1 345 735 $926,900


British Columbia Eyaletinde yasayip, Ilk Defa Ev Alacaklar olanlara saglanilan kolayliklar


British Columbia Eyaletinde yasayip, Ilk Defa Ev Alacaklar olanlara saglanilan kolayliklar:

1- Home Owner Mortgage and Equity Partnership program'i altinda yeni ev alacaklara B.C. Hukumeti 37500 CAD ye kadar ilk 5 yil faizsiz borc verecek. Bu imkandan yararlanmaniz icin en onemli kosul bir bankadan mortgage pre-approval almaniz- yani mortgage icin on onay almaniz gerekiyor. Diger kosullar asagida siralanmistir. Bu parayi alabilmek icin bankanizdan on onayi aldiktan sonra BC Housing for the Home Owner Mortgage and Equity (HOME) partnership loan'a basvuru yapacak sonra oradan da onay gelince evinizi bulacaksiniz. Gerekli kosullar;
  • Son 5 yildir Kanada vatandasi yada gocmen olmus olmak
  • Basvuru tarihinden once 1 senedir British Columbia eyaletinde yasiyor olmak
  • Alacaginiz evin ilk eviniz olmasi gerekiyor
  • Evinizde 5 yil oturacak olmaniz gerekiyor
  • Alacaginiz evin fiyatinin 750 bin dolari gecmemesi gerekiyor
  • Bankadan "pre-approval" yani mortgage icin on onay almis olmaniz gerekiyor
  • Toplam gelirinizin yillik 150 bin dolari gecmemesi gerekiyor
  • En azindan verilen borc miktari kadar yani 37500 CAD lik down payment yani pesinat miktarinizin elinizde olmasi gerekiyor.
  • Alacaginiz evin tapu islem tarihinin 15 Subat ve sonrasina denk gelmesi gerekiyor. Yani simdiden teklif verip anlasmanizi yapsaniz bile evin tapu islem tarihinin 15 Subat ve sonrasi olarak koymalisiniz teklifinize.
  • Bu fon basvuru imkani 31 Mart 2020 tarihine kadar acik olacak.

Daha fazla bilgi icin bu linke tiklayiniz: https://housingaction.gov.bc.ca/tile/home-owner-mortgage-and-equity-partnership

2- Property Transfer Tax (PTT) Exemption - B.C. Hukumeti alinan evlerden belli oranda her alimda bir kere olmak kosulu ile alim-satim vergisi keser. Bu vergi alici tarafindan hukumete odenir. Bu verginin orani soyle hesaplanir:

  • 1% on the first $200,000 - ilk 200bin dolarin yuzde 1'i
  • 2% on the balance up to and including $2,000,000- geriye kalan ve maximum 2 milyona kadar olacak rakamin yuzde 2'si
  • 3% on the balance greater than $2,000,000 - alinan evin fiyati 2 milyon dolardan fazla ise toplam rakamin yuzde 3'u olarak hesaplanir

Mesela 750 bin dolarlik bir yer alirsaniz PTT: $2000 (%1 x $200,000) + $11000( %2 x $550,000) = $13000 olacaktir.

Evinizin fiyati $475000 ve altinda ise ve ilk defa ev aliyorsaniz PTT odemezsiniz. $475,000 ve $500,000 dolar arasinda ise oransal bir odeme soz konusu olacaktir. Evin fiyati $500,000 i gecerse PTT odemeniz gerekecektir (hesaplamayi yukardaki ornekde oldugu gibi yapabilirsiniz).

Yeni yapilan evlerde- yani ilk defa satilan sifir evlerde - satis fiyati 750,000 dolarin altinda ise PTT odemezsiniz ama yeni yapilan evler yuzde 5 GST vergisine tabidir. Bazen GST rebate'ler soz konusu olabilir, bunun icin bu linke tiklayiniz :http://www.cra-arc.gc.ca/E/pub/gp/rc4028/README.html

Eger ilk defa ev alacaksaniz ve gerekli kosullari sagladiysaniz bu programdan yararlanmak icin, noteriniz satis islemleri esnasinda gerekli formlari doldurup hukumete first time home buyer oldugunuzu bildirir ve boylece bu vergiden muaf olursunuz. 

Daha fazla bilgi almak icin bu link'e tiklayiniz:  http://www2.gov.bc.ca/gov/content/taxes/property-taxes/property-transfer-tax

 

3- RRSP - Home Buyers’ Plan: Registered Retirement Savings for down payments:


Canada Revenue Agency’s Home Buyers' Plan ilk defa ev alacaklarin pesinatlarinda kolaylik saglamak icin, alicilarin birikmis RRSP hesaplarindan kisi basi $25000 cift olarak ise $50000 dolara kadar vergisiz para cekmelerine izin veriyor.

Normalde RRSP hesabinizdan para cekmeniz icin cektiginiz rakamdan o yilki vergi diliminize denk gelen oranda vergi odemeniz gerekir ama ilk defa ev alirken bu vergiden muaf oluyorsunuz.  Bu cekilen paranin 15 sene icerisinde yavas yavas yada bir kere de geri odemeleri beklenir. Tabi yine alinacak evde yasama sarti vardir, yani en az 1 sene bu evde yasamaniz gerekir.

Finansal danismaniniz ile bu konuyu gorusup ayrintilari ogrenebilirsiniz. RRSP hesabinizdan vergisiz para cekmeniz icin verilen bu olanaktan yararlanmanizi oneririm.

Daha fazla bilgi icin buraya tiklayiniz: http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/hbp-rap/menu-eng.html

4- First-Time Home Buyers' Tax Credit:

Evinizi aldiktan sonra uygun doneme denk gelen tarihte yillik gelir verginizi yaparken, yeni aldiginiz ev icin $5000 dolara kadar yillik verginizde gosterme imkani taniyor. Bu rakam size yillik vergi hesaplarinizda indirim saglayabilir. Evinizi aldiktan sonra ki donemde yillik gelir vergilerinizi yaparken bu rakami kullanmayi unutmayin.

Daha fazla bilgi icin bu link'e tiklayiniz; http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns360-390/369/menu-eng.html



MAY 2016 STATS


Demand remains elevated across the Metro Vancouver housing market

Metro Vancouver homes continue to sell at an unprecedented rate in communities across the region.

Residential property sales on the region's Multiple Listing Service® (MLS®) totalled 4,769 in May 2016, an increase of 17.6 per cent from the 4,056 sales recorded in May 2015 and a decrease of 0.3 per cent compared to April 2016 when 4,781 homes sold.

Last month’s sales were 35.3 per cent above the 10-year sales average for the month and rank as the highest sales total on record for May.

"Home sellers are becoming more active in recent months, although that activity is being outpaced by home buyer demand today," Dan Morrison, REBGV president said.

New listings for detached, attached and apartment properties in Metro Vancouver totalled 6,289 in May 2016. This represents an increase of 11.5 per cent compared to the 5,641 units listed in May 2015 and a 2.6 per cent increase compared to April 2016 when 6,127 properties were listed.

The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 7,726, a 37.3 per cent decline compared to May 2015 (12,336) and a 2.3 per cent increase compared to April 2016 (7,550).

"Economic and job growth in Metro Vancouver is out performing most regions in the country. This is helping to underpin today’s activity," Morrison said.

The sales-to-active listings ratio for May 2016 is 61.7 per cent. This is indicative of a seller’s market.

Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark, while home prices often experience upward pressure when it reaches the 20 to 22 per cent range in a particular community for a sustained period of time.

The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $889,100. This represents a 29.7 per cent increase compared to May 2015.

Sales of detached properties in May 2016 reached 1,865, an increase of 8.2 per cent from the 1,723 detached sales recorded in May 2015. The benchmark price for detached properties increased 36.9 per cent from May 2015 to $1,513,800.

Sales of apartment properties reached 2,150 in May 2016, an increase of 34.4 per cent compared to the 1,600 sales in May 2015. The benchmark price of an apartment property increased 22.3 per cent from May 2015 to $485,000.

Attached property sales in May 2016 totalled 754, an increase of 2.9 per cent compared to the 733 sales in May 2015. The benchmark price of an attached unit increased 24.9 per cent from May 2015 to $632,400.

Download the full stats package by clicking here